Binance/U.S.dollar (BNBUSD) Elliott Wave Technical Analysis 25 January 23

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Elliott Wave Analysis TradingLounge Daily Chart, 25 January 23,

Binance/U.S.dollar (BNBUSD) BNBUSD Elliott Wave Technical Analysis

Function: Follow trend Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave III of Motive Details: Wave III is usually 1.618 x Wave I in length.

Wave Cancel invalid level: 220

Binance/U.S.dollar(BNBUSD) Trading Strategy: Binance coin has recovered well from the 220 level and managed to break the MA200, signaling the weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a trend towards the price target at level 568, but even so, this is only the beginning of an uptrend. Price may be reversed. before rising again.

Binance/U.S.dollar(BNBUSD) Technical Indicators: The price is below the MA200, indicating a downtrend. The wave oscillators above Zero-Line Bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 25 January 23,

Binance/U.S.dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (5)

Direction Next higher Degrees: wave ((1)) of Motive Details: wave(5) may end and the price throwback in wave ((2)) larger degree Wave Cancel invalid level: 254.8

Binance/U.S.dollar(BNBUSD) Trading Strategy: Binance Coin Wave (5) is likely to end. After the price is near the target price, it causes severe reverse. Causing the price to pass through the EW. Channel and also have the BEARISH Divergence signal, allowing us to expect the reverse of the wave ((2) at a large level, so should wait for the wave ((2) to complete to include the trend time.

Binance/U.S.dollar(BNBUSD)Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have BEARISH Divergence signal the price may reversal.